New Age Alpha Advisors LLC Has $3.33 Million Position in The Hanover Insurance Group, Inc. $THG

Key Points

• New Age Alpha Advisors LLC cut its stake in The Hanover Insurance Group by 41.6% in the fourth quarter, ending with 18,208 shares worth about $3.33 million.
• The Hanover Insurance Group posted better-than-expected quarterly results, with EPS of $5.25 versus $4.14 expected and revenue of $1.70 billion, up 6.1% year over year.
• The company’s board authorized a $700 million share buyback, covering up to 10.6% of outstanding shares, while analysts currently rate the stock a “Moderate Buy” with an average target of $205.86.

New Age Alpha Advisors LLC reduced its holdings in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 41.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,208 shares of the insurance provider's stock after selling 12,996 shares during the quarter. New Age Alpha Advisors LLC owned about 0.05% of The Hanover Insurance Group worth $3,328,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPL Wealth Management LLC acquired a new stake in shares of The Hanover Insurance Group in the third quarter valued at about $26,000. Community Bank N.A. acquired a new stake in shares of The Hanover Insurance Group in the third quarter valued at about $27,000. Entrust Financial LLC acquired a new stake in shares of The Hanover Insurance Group in the fourth quarter valued at about $33,000. Clearstead Advisors LLC grew its position in shares of The Hanover Insurance Group by 300.0% in the third quarter. Clearstead Advisors LLC now owns 200 shares of the insurance provider's stock valued at $36,000 after purchasing an additional 150 shares during the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new stake in shares of The Hanover Insurance Group in the third quarter valued at about $43,000. 86.61% of the stock is owned by institutional investors and hedge funds.

The Hanover Insurance Group Stock Up 0.1%

THG stock opened at $195.34 on Tuesday. The Hanover Insurance Group, Inc. has a twelve month low of $160.70 and a twelve month high of $199.59. The company has a market cap of $6.83 billion, a PE ratio of 9.83 and a beta of 0.31. The business's 50-day simple moving average is $180.74 and its 200 day simple moving average is $179.04. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.22.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last released its earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share for the quarter, topping analysts' consensus estimates of $4.14 by $1.11. The Hanover Insurance Group had a return on equity of 21.55% and a net margin of 10.77%.The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the business earned $3.87 earnings per share. The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. On average, research analysts anticipate that The Hanover Insurance Group, Inc. will post 18.45 earnings per share for the current year.

The Hanover Insurance Group announced that its board has authorized a share repurchase plan on Wednesday, May 13th that authorizes the company to buyback $700.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to purchase up to 10.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

THG has been the topic of several research analyst reports. BMO Capital Markets downgraded The Hanover Insurance Group from an "outperform" rating to a "market perform" rating and raised their price target for the company from $194.00 to $203.00 in a research report on Tuesday, May 19th. Morgan Stanley set a $195.00 price target on The Hanover Insurance Group in a research report on Friday, May 1st. Zacks Research raised The Hanover Insurance Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 4th. Royal Bank Of Canada lifted their target price on The Hanover Insurance Group from $190.00 to $195.00 and gave the stock a "sector perform" rating in a research report on Friday, May 1st. Finally, Weiss Ratings raised The Hanover Insurance Group from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, The Hanover Insurance Group has an average rating of "Moderate Buy" and an average price target of $205.86.

Insider Activity at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Denise Lowsley sold 4,175 shares of The Hanover Insurance Group stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $191.73, for a total transaction of $800,472.75. Following the sale, the executive vice president directly owned 3,883 shares of the company's stock, valued at approximately $744,487.59. The trade was a 51.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John C. Roche sold 8,358 shares of The Hanover Insurance Group stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.74, for a total value of $1,619,278.92. Following the sale, the chief executive officer directly owned 141,011 shares in the company, valued at $27,319,471.14. The trade was a 5.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 29,708 shares of company stock valued at $5,726,373. Corporate insiders own 2.80% of the company's stock.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc NYSE: THG is a property and casualty insurance company that provides a range of commercial and personal insurance products. Through its subsidiary companies, Hanover offers coverage for businesses of all sizes, including workers' compensation, general liability, commercial auto, and professional liability. On the personal lines side, the company underwrites homeowners, personal auto, flood, and umbrella policies designed to meet the needs of individuals and families.

In addition to its core commercial and personal insurance offerings, Hanover maintains a specialty arm that focuses on niche markets through tailored product solutions.

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